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Adept All In One Ltd

Registered Number
12191428
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

Adept All In One Ltd
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

Smith, Michelle Dawn

Registered Address

139-143 Union Street
Oldham
OL1 1TE

Registered Number

12191428 (England and Wales)
Adept All In One Ltd
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets37,77515,551
Tangible assets4139,935102,947
147,710118,498
Current assets
Stocks5109,790104,819
Debtors174,473108,770
Cash at bank and on hand17,2397,889
301,502221,478
Creditors amounts falling due within one year7(298,753)(192,714)
Net current assets (liabilities)2,74928,764
Total assets less current liabilities150,459147,262
Creditors amounts falling due after one year8(136,334)(104,505)
Net assets14,12542,757
Capital and reserves
Called up share capital22
Profit and loss account14,12342,755
Shareholders' funds14,12542,757
The financial statements were approved and authorised for issue by the Director on 19 March 2024, and are signed on its behalf by:
Smith, Michelle Dawn
Director
Registered Company No. 12191428
Adept All In One Ltd
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on all intangible fixed assets as follows: Goodwill - 20% SL
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings15
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20232022
Average number of employees during the year98
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2238,87938,879
At 30 September 2338,87938,879
Amortisation and impairment
At 01 October 2223,32823,328
Charge for year7,7767,776
At 30 September 2331,10431,104
Net book value
At 30 September 237,7757,775
At 30 September 2215,55115,551
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 October 22113,7101,400115,110
Additions92,685-92,685
Disposals(53,990)-(53,990)
At 30 September 23152,4051,400153,805
Depreciation and impairment
At 01 October 2211,73842512,163
Charge for year8,3291288,457
On disposals(6,750)-(6,750)
At 30 September 2313,31755313,870
Net book value
At 30 September 23139,088847139,935
At 30 September 22101,972975102,947
5.Stocks

2023

2022

££
Work in progress109,790104,819
Total109,790104,819
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables148,56372,210
Other debtors25,91036,560
Total174,473108,770
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables110,64456,917
Bank borrowings and overdrafts41,48234,284
Taxation and social security137,19895,998
Other creditors6,4875,515
Accrued liabilities and deferred income2,942-
Total298,753192,714
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts136,334104,505
Total136,334104,505